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you some money. that's why you should consider... an aarp medicare supplement insurance plan... insured by united healthcare insurance company. it can help cover some of what medicare doesn't... so you could save up to thousands of dollars... in out-of-pocket expenses. call now for this free information kit... and medicare guide. if you're turning 65 or you're already on medicare, you should know about this card; it's the only one of its kind... that carries the aarp name -- see if it's right for you. you choose your doctor. you choose your hospital. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't cover. save up to thousands of dollars... on potential out-of-pocket expenses... with an aarp medicare supplement insurance plan... insured by united healthcare insurance company. call now for your free information kit... and medicare guide and find out... how you could start saving. >>> i'm jim cramer and welcome to my world. >> he's nuts. they oar nuts. they know nothing. >> there is a bull market somewhere. >> "mad money". y
. medicare and medicaid services report that u.s. health care spending rose 4.4% to $2.3 trillion, the slowest growth rate in nearly 50 years. health care spending is still accounting for 16.2% of gdp that is up from 15.9% in 2007. >> general motors december sales falling by 13%, larger than analysts expected. phil lebeau is in chicago with more. a lot of surprises today? >> a lot of surprises. gm weaker than expected. we want to go over those numbers from general motors. the vice president for sales from the company's headquarters susan dockerty. thanks for joining us. >> happy new year to you. >> let's go over these numbers. you are talking about the fact you cleared a lot of inventory and retail market share and retail sales you are trending up. let's be honest here these numbers are weaker than wall street wasç expecting. >> i can't tell you that i know what wall street was expecting but our retail business was up 7%. our total sales were down 6% and that was something we were expecting because last december we had a very high percentage of fleet. but this december our fleet
diabetes testing supplies - but it's where i get my prescription drugs as well. see if you're on medicare, the cost of your diabetes testing supplies as well as your prescription drugs may be covered. liberty takes care of all the paperwork with medicare and sends the prescription forms directly to your doctor for approval. then, on your schedule, packs up this box and sends it right to your door with no charge for shipping. and liberty assures you have everything you need to manage your diabetes, including most brand name meters. call now and we'll send you a free meter. plus, a free cookbook when you join. call liberty. they can help you live a better life. call the number on your screen. >>> welcome back. live from the consumer electronics show in las vegas today, 3-d making a big leap to the small screen. heavyweights, such as sony, discovery and imax announcing this week plans to introduce a 3-d channel in 2011. here with me at the consumer electronics show, it's clear that 3-d is becoming a hot trend throughout the technology world. question is, will consumers buy into it like they
with all of these giveaways to get signed on to a bill that raises taxes and cuts medicare to seniors who deputy on medicare and cause people's policies to go up. >> just to follow up on that. a lot of this race was also about the tax hike component. i mean, scott brown said cap and trade is a tax hike. the health care bill is a tax hike. he's formulating kitchen table populism or pickup truck populism or tea party populism. has your party missed the boat on this? have the democrats now moved way too far left away from center ground? i don't think so, but obviously the party has to sit back and take a very close look at what the people of massachusetts were saying. what they were not saying and here's where i disagree with the senator, is that they don't like the health care plan that they put together in massachusetts which is essentially the outline of the senate plan. in fact, the vast majority of people in massachusetts like what they did in massachusetts and the new senator supports that bill and does not support the repeal of the massachusetts plan which has massive federal subsidie
medicare supplement insurance plan... insured by united healthcare insurance company. it can help cover some of what medicare doesn't... so you could save up to thousands of dollars... in out-of-pocket expenses. call now for this free information kit... and medicare guide. if you're turning 65 or you're already on medicare, you should know about this card; it's the only one of its kind... that carries the aarp name -- see if it's right for you. you choose your doctor. you choose your hospital. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't cover. save up to thousands of dollars... on potential out-of-pocket expenses... with an aarp medicare supplement insurance plan... insured by united healthcare insurance company. call now for your free information kit... and medicare guide and find out... how you could start saving. da bull market or bear, traders are always hungry for ideas. trading is all about strategy. and strategy... is all about information. heat mapping shows me where the money's moving. twenty five hundred stocks... one
medicare exposure. and you know what? we were right. we were dead right. we caught the big move up in health care. so what do you do when you didn't really like the stocks? you ring the register. you ring the register on your least favorite names on the group and you focus on some of the others that you actually liked with or without health care reform. and that's the subject of tonight's sell block. i'm telling you you have to take profits in humana, in u & h, despite that good quarter yesterday, and rehab care. and i'm going to tell you why. the main reason to sell these stocks, simply that the easy money has been made. and it is time to stop being greedy. okay? ring the register. if you bought these stocks, you have enormous gains, u & h up 103%. rehab care up 141%. and it's up 12% since we recommended it on november 19th. technically we're not putting these three stocks on the sell block, they don't deserve that. we're simply saying that when you hold your nose and buy merchandise betting it's priced incorrectly and your bet pays off, then it's time to get out, otherwise you're
't cover can cost you some money. that's why you should consider... an aarp medicare supplement insurance plan... insured by united healthcare insurance company. it can help cover some of what medicare doesn't... so you could save up to thousands of dollars... in out-of-pocket expenses. call now for this free information kit... and medicare guide. if you're turning 65 or you're already on medicare, you should know about this card; it's the only one of its kind... that carries the aarp name -- see if it's right for you. you choose your doctor. you choose your hospital. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't cover. save up to thousands of dollars... on potential out-of-pocket expenses... with an aarp medicare supplement insurance plan... insured by united healthcare insurance company. call now for your free information kit... and medicare guide and find out... how you could start saving. >>> welcome back to cnbc's power lunch. i'm michelle caruso-cabrera live in mexico city. i'm at a home depot in mexico city, significant beca
done more with cost containment or fixing medicare which is already broken instead of just expanding it. there's something in between doing nothing and just doing this bill, isn't there? >> of course, there's always something in between. and i think that the president spent a good deal of time trying to find a bipartisan solution, dealing with senator collins, senator grassley. come on, he spent the whole summer. i mean, i was pulling my hair out by the end of july or the beginning of august that they were still in this kind of scrum with the republican members on the finance committee. >> do you remember hanging on every word grassley said, every word snowe said? >> not really. >> collins? >> not really. >> a long time ago. >> so i think they tried. and at the end of the day, the republicans made a decision that they were just going to be at opposition and hoped that as rush limbaugh famously said, that the president would fail. >> oh, okay. all right. >> that's their political strategy. >> let me ask you -- well, because they could honestly believe that some of these things aren't the
testing supplies - but it's where i get my prescription drugs as well. see if you're on medicare, the cost of your diabetes testing supplies as well as your prescription drugs may be covered. liberty takes care of all the paperwork with medicare and sends the prescription forms directly to your doctor for approval. then, on your schedule, packs up this box and sends it right to your door with no charge for shipping. and liberty assures you have everything you need to manage your diabetes, including most brand name meters. call now and we'll send you a free meter. plus, a free cookbook when you join. call liberty. they can help you live a better life. call the number on your screen. bull market or bear, traders are always hungry for ideas. trading is all about strategy. and strategy... is all about information. heat mapping shows me where the money's moving. twenty five hundred stocks... one quick look. that's where the action is. plus, this amazing gadget... it's called the telephone. i can call td ameritrade anytime and talk trades, strategy... anything. td ameritrade. built by
and res regulation out there. >> humana is up nicely and they have a big medicare advantage program. look at other side of this. the hospital stocks have been under pressure here today like universal health or tenet health care. why has that -- why would they be under pressure at this point? because with no health care reform, less people might be insured so that expense wouldn't be alalleviated. that would be an issue for them as well. each if the republicans win, a number of people noted the house could pass the senate bill that was already passed and simply move on to president obama for his signature. that would be politically con ro veshl. japan airlines declaring bankruptcy. what? the japanese bailed them out four times in ten years and this time they just cut them loose and decided to let them go. that sent shock waves through the industry. amr and delta, by the way, are vying for a close relationship with japan airlines. amr already has one. the important thing is we're looking for some signs that maybe they could get a deeper relationship in the future here. we'll get amr and con
this proposed 1% medicare payroll tax hike to fund the obama health care plan by including investments, like capital gains and dividends rather than simply wages. now, the wage hike's bad enough. obama care is bad enough. but applying this to investment simply raises the cost of capital, lowers the return on risk taking, and damages prospects for economic recovery growth. what is team obama thinking. the new year tax attack. i've never seen anything so dumb. i'm not surprised stocks sold off today, especially the bank stocks. and i've got to tell you, if these tax hikes actually get through the congress and the white house in the weeks ahead, the stock market is going to sag, no matter how good fourth-quarter profits come in. you cannot tax your way to prosperity. did i say dumb policy? that is my take. extremely dumb policy. now, i want to get some reaction on this point from our guests. we have ssht director for tax and budget policy at the center for american progress, michael lyndon. we also have the "wall street journal's" steve moore. michael lyndon, because i believe in fairness and o
the paperwork, and medicare and my insurance covered the cost. we can work directly with medicare or with your insurance company. we can even help with financing. if there's a way, we'll find it! so don't wait any longer, call the scooter store today. >>> welcome back to "the fast money halftime report." we are getting to the heart of the action as it is happening. the latest round of avp data disappoints and there are a number of trades that are working today including metals, miners and retail stocks. let's get to the word on the street. our fast money crew today the ambassador jim seymour and jared levy of peak six and tom gored oven forex.com. this is a call we got on the desk for the past few weeks. it is the goldman call on the global economic recovery upgrading a number of industrial names including 3m, a lead or the doul as well as material names including the steel stocks. which one here would you put fresh capital into? >> think it was just disk based again. look at the nucor, aks have underperformed. mattel which is the largest player has been upgraded because they're slowing them b
. they were so helpful and nice. they filed all the paperwork, and medicare and my insurance covered the cost. we can work directly with medicare or with your insurance company. we can even help with financing. if there's a way, we'll find it! so don't wait any longer, call the scooter store today. >>> welcome back to "power lunch." i'm phil lebeau with breaking news. december sales from chrysler is better than expected. a decline of 10.5% when you adjust year over year for the month of december. the street was expecting a decline of 10%. so chrysler a little better than expected. a decline of 10.5%. tyler, we'll get gm numbers a little later on during "power lunch." back toç you. >> what's the expectation on gm? do you have one? on a decline of 1%. don't be surprised that they beat that because they have the dealer incentives to clear out saturn and pontiac and as we've seen with ford we could be seeing the beginning of the consumer starting to go back into the showrooms. >> boy, is gm advertising hard on all of the football games lately. they've been hitting with howie long is the pitchma
ticket items, the entitlement spending, medicare, medicaid. that's exactly what the president has been working so hard with the congress to put in place some important reforms that will genuinely slow the growth rate of those costs. and that is the most fiscally responsible thing one could be doing at this point. >> ms. romer, final question. 660,000 people dropped out of the work force. what explains that and what happens if they come back in to the unemployment rate? one would assume it will go a lot higher. >> well, you're certainly right on both accounts in the sense that we did see people drop out of the labor force and that is something that tends to happen in recessions. people do become discouraged. and if we start -- when we start to add lots of jobs that will surely encourage some of those, discourage workers to come back in. i think the important thing, whatever effect that might have on the unemployment rate in the short run that would be a good thing. it would mean the economy is expanding, they do see hope, and that is something we'll be looking forward to in the sense of
in the past two tax cuts and medicare prescription drug benefit that were not paid for and the effects of the economic downturn. that is where a deficit comes from. that is why we are making sure we pay for new proposals and working to jump start the economy and get it back on its feet. >> how do you grow jobs at the same time you are cutting spend something. >> again there is a timing issue. in 2010 the primary focus is job growth. 2013 2014, 2015 it is getting the deficit down to make sure we don't imperil job growth and leave enough room for private investment. we have to promote job growth now and look for more efficiencies in the federal government and bring deficits down. >> $150 billion in stimulus working its way through congress. there are critics saying that is throwing good money after bad. because money from the original stimulus hasn't created jobs. >> all credible analysis suggests that the recovery act has spurred economic growth during the second quarter, during the third quarter and into the fourth quarter. created or saved 1.5 million to 2 mi
's driving this is entitlement spending, mainly medicare and medicaid. so taking actions now to help slow the growth rate of cost is probably the most fiscally responsible thing one could be doing at this point in time. the president's also made it clear that he knows that's not going to be enough, and that fiscal responsibility is something he believes in deeply. and as we're proposing our budget and working with the congress he's going to be talking about what other steps need to be taken. so it was supposed to be, the way the president described it, is deficit neutral in the budget window. we know that as the bills have come through both the senate and house have been scored by the congressional budget office, they both helped reduce the budget deficit, even in that first ten-year budget window. and are taking the kinds of actions to slow the growth rate of cost that reduce the budget deficit even more when you get out of the ten-year budget window. and so, absolutely, the kinds of things in the acts, the delivery system reforms, getting rid of overpayments and waste in the medicare an
it doesn't cover can cost you some money. that's why you should consider... an aarp medicare supplement insurance plan... insured by united healthcare insurance company. it can help cover some of what medicare doesn't... so you could save up to thousands of dollars... in out-of-pocket expenses. call now for this free information kit... and medicare guide. if you're turning 65 or you're already on medicare, you should know about this card; it's the only one of its kind... that carries the aarp name -- see if it's right for you. you choose your doctor. you choose your hospital. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't cover. save up to thousands of dollars... on potential out-of-pocket expenses... with an aarp medicare supplement insurance plan... insured by united healthcare insurance company. call now for your free information kit... and medicare guide and find out... how you could start saving. >>> there's a look at futures after we got the citigroup numbers about 25 minutes ago. we have erased some of our losses, but it's
consider... an aarp medicare supplement insurance plan... insured by united healthcare insurance company. it can help cover some of what medicare doesn't... so you could save up to thousands of dollars... in out-of-pocket expenses. call now for this free information kit... and medicare guide. if you're turning 65 or you're already on medicare, you should know about this card; it's the only one of its kind... that carries the aarp name -- see if it's right for you. you choose your doctor. you choose your hospital. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't cover. save up to thousands of dollars... on potential out-of-pocket expenses... with an aarp medicare supplement insurance plan... insured by united healthcare insurance company. call now for your free information kit... and medicare guide and find out... how you could start saving. da >>> good morning, folks. welcome back to "squawk on the street." i'm matt nesto checking all kinds of movers. check out worthington industries, used to call it worthington steel. the stock is u
is being talked about, is extending the medicare payroll tax, not just extending the tax, but extending it to investment income. what that would allow you to do, you could lose the surtax that i mentioned. you could reduce the level or the impact of that cat cadillac tax on high cost insurance plans, which is very important to labor unions chor opposed to that tax even though the white house is for it. >> the house doesn't want to be a wall nflower. they only won by 1 in the house. don't think we're going to roll over for everything you tell us to do in the senate. i and i just wonder whether that starts getting louder. >> i've heard that argument from weinor and others. the house doesn't want to completely get rolled, but they're going to mostly get rolled. >> because they're the -- what is it in london? they're the commoners, i guess. >> they're in steerage on the titanic. >> they're not the senators -- >> john kerry, those types. >> we've modified. >> they're scrappers. >> it's sort ooh like on this show, joe is the house of representatives and becky and carl is the senate. >> becky
if you're on medicare, the cost of your diabetes testing supplies as well as your prescription drugs may be covered. liberty takes care of all the paperwork with medicare and sends the prescription forms directly to your doctor for approval. then, on your schedule, packs up this box and sends it right to your door with no charge for shipping. and liberty assures you have everything you need to manage your diabetes, including most brand name meters. call now and we'll send you a free meter. plus, a free cookbook when you join. call liberty. they can help you live a better life. call the number on your screen. >>> welcome back. u.p.s. raising its fourth quarter guidance today. that was an important story on the day. it was based on successful cost-cutting and better than expected performance in both domestic and international businesses at u.p.s. it's a good sign for anxious investors, certainly, before earnings season kicks off, but is the market overly optimistic for the fourth quarter? joining me now to talk about that and the earnings period overall is john fisher, portfolio manager at
're exploding the size of government, and you should have been the resources we have, medicare cuts, trillions of dollars over 20 years, and using it to expand a brand new entitlement. if you reduce medicare by that much you should make it to make medicare insolvent, $23 trillion of unfunded liability. this concept of what's being done here n the end they can claim, we're giving health care to the main people but the real result is going to be -- government's not going to be affordable. >> colorado voters, they wanted reform. the piece in "the new york times," dying for health care reform, please, please. and then the actual bill itself, no one wants it. >> like "the new york times." >> that's in "the times," too. >> new york started out in the same boat and they changed their mind, leaders in new york city. >> there's a lot of second-guessing in massachusetts right now. >> the senator's going to be with us for the rest of the program. if you've got any comments or questions for him, anything you'd like to see us address on "squawk," go ahead and e-mail us at squawk@cnbc.com. >>> next up, what
althcare insurance company. it can help cover some of what medicare doesn't... so you could save up to thousands of dollars... in out-of-pocket expenses. call now for this free information kit... and medicare guide. if you're turning 65 or you're already on medicare, you should know about this card; it's the only one of its kind... that carries the aarp name -- see if it's right for you. you choose your doctor. you choose your hospital. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't cover. save up to thousands of dollars... on potential out-of-pocket expenses... with an aarp medicare supplement insurance plan... insured by united healthcare insurance company. call now for your free information kit... and medicare guide and find out... how you could start saving. >>> our guest host mark oelsen, federal reserve governor. did you folks everyone joy yourselves today? >> we did. got a lot done. >> we got some good stuff done. good guests on. we will stay low for a while. when we do exit t. will not be the end of the world. >> we wi
premiums, bring down the deficit, cover the uninsured, strengthen medicare for seniors, and stop insurance company abuses, let me know. let me know. let me know. i'm eager to see it. here's what i ask congress, though. don't walk away from reform. not now. not when we are so close. let us find a way to come together and finish the job for the american people. let's get it done. let's get it done. now, even as health care reform would reduce our deficit, it's not enough to dig us out of a massive fiscal hole in which we find ourselves. it's a challenge that makes all others that much harder to solve. and one that's been subject to a lot of political posturing. so let me start the discussion of government spending by setting the record straight. at the beginning of the last decade, the year 2000, america had a budget surplus of over $200 billion. by the time i took office, we had a one-year deficit of over $1 trillion and projected deficits of $8 trillion over the next decade. most of this was the result of not paying for two wars, two tax cuts, and an expensive prescription drug program. on
-term liabilities and 40 trillion of that is social security and medicare. here we're talking about a very small amount. if it you run the numbers for 2011 according to the cbo. we'll have a deficit gdp ratio of 6.53%. with the obama freeze, it will be 6.43%, a 0.1 percentage point. >> let's step in. the obama administration is not saying this is the only fix. clearly the obama administration has laid out other benchmarks. clearly health care reform is supposed to address some of the structural deficit cost. >> sure it will. >> but -- christian -- >> that's what the honest discussion has to be. conservatives have to face the fact that health care reform is one. >> wait, guy. how can anyone take this seriously. i can please speak? how can anyone take this budget freeze seriously with it doesn't, i read, address medicare and social security in any way at all and when today, i believe, the administration's coming out with an $80 billion job program when the stimulus was supposed to create the jobs. christian, how can we take it seriously? ? you're confusing the long run with the short run. in the s
on private insurance and people's ability to buy their own insurance and its effect on medicare, cutting medicare by trillions of dollars, if they want to at that time senate bill and ram it through the house and accepted it to the president to sign it, they have the votes right now. scott brown's election, if he's successful and hopefully he will be, won't change that. and clearly the leadership of the democratic party hasn't gotten the message because speaker pelosi said that today. that's what they intend to do. so you still have a government here in washington that's run by some folks from san francisco and other places who truly believe that if you dramatically grow the size of government, you create prosperity which certainly flies in the face of history. >> the stock market seems to be saying that the high tide of democratic pelosi, reid, obama, left liberalism, the high tide has been reached tonight and that now it will change that local atmosphere. your last thought on that. is the stock market right, senator gregg? >> the stock market usually is right because it's people puttin
, and medicare and my insurance covered the cost. we can work directly with medicare or with your insurance company. we can even help with financing. if there's a way, we'll find it! so don't wait any longer, call the scooter store today. welcome back to "the call." tracking the market's "real time flash" for you, great days for the financials except for charles schwab. the company's come out and reduced their commission schedule to 895 from 1295. they've gotten rid of the million dollar minimums and the hundred dollar trades. what's interesting if you look at their effect on the market for the discounters, ameritrade also getting hit, but twice as bad as schwab due to actions of their rivals. so schwab and ameritrade both trading low or a day when ameritrade is strong. >>> stocks have been held hostage by the dollar over the past few months. can it break that hold? let's ask m.f. global vice president of financial research and jim la camp, portfolio manager of macro portfolio vaz advisers. thanks for your time. i guess first question we have to ask is is the dollar going to continue streng
testing supplies - but it's where i get my prescription drugs as well. see if you're on medicare, the cost of your diabetes testing supplies as well as your prescription drugs may be covered. liberty takes care of all the paperwork with medicare and sends the prescription forms directly to your doctor for approval. then, on your schedule, packs up this box and sends it right to your door with no charge for shipping. and liberty assures you have everything you need to manage your diabetes, including most brand name meters. call now and we'll send you a free meter. plus, a free cookbook when you join. call liberty. they can help you live a better life. call the number on your screen. >>> the vix hit its lowest level in 16 months today. and some investors are worried it's a sign the market has become too complacent. does it mean a major correction is on the way? let's bring in jeff weiss. and principal at ace investment strategies. gentlemen, thanks for your time. how is the vix speaking to you right now? >> the vix right now is telling me that the market is indeed a little bit complacents, a
and nice. they filed all the paperwork, and medicare and my insurance covered the cost. we can work directly with medicare or with your insurance company. we can even help with financing. if there's a way, we'll find it! so don't wait any longer, call the scooter store today. >>> market milestone time. india's constitution turns 60 this year. the country became independent on august 15th, 1947, but it was not until january 26th, 1950, 60 years ago today, that india had a written constitution. over the past year, bombay sensex up 93%. a recent report by price water house says india has the potential to become the world's third largest economy by purchasing power by 2012, overtaking japan. >> well, there are reports president obama intends to propose a three-year freeze in discretionary spending. that accounts for one-sixths of the federal budget. our all-stars talking washington, wall street and your money. rick santelli, john harwood and, of course, erin and mark back at the nyse. mark, let's start with you. it's funny, everything except this, this, this, and this. >> exactly. we he
of trillions of unfunded obligations for medicare. it results in higher health care costs as a result of gdp. if it passes, then doing nothing. we're punting on all the tough choices. >> does it pay for itself over ten years? >> fend depends on who you ask. i think it does, but part of the reason it pays for itself over ten years is you get revenues in some savings for all ten years. and certain expenditures don't last all ten years. they last fewer years than that. there are differences of opinion about whether or not it pays for itself beyond ten years. the cbo says that it does. but what people don't want to read is, all the different qualifications and caveats that the cbo puts on that basically saying we have serious concerns about whether or not this is -- will happen and be sustainable. >> the cbo is not giving this a clean bill of health even though politicians who are pushing this through have been holding this up. you were the comptroller general. we've heard from other people who are concerned about the pushback on the states, the amount that it's going to be dumping back on them
for drug companies, the medicare advantage cuts are less. whether or not this election shakes out for the republicans or democrats i actually think that every day that this is hanging out there for the administration is a bad day. >> les, forgive me, i didn't mean to interrupt you. andrew let me go to les. on the central question of the stocks, the movement and investigating, would you agree? >> i would. the simplest narrative. coakley is the weak candidate. the health care agenda is in somewhat of trouble. that is good for the vast majority of health care stocks including managed care and pharma. fundamentals in those groups are attractive as well once you lift this they go higher. >> so would you break it down in the same way andrew did through that sector? >> sure. we rank order. managed care first, pharmaceuticals second, med tech third, biotech fourth. there are smaller groups he was referring to. but it relates to how badly they were hit over concerns of reform in the first place. >> chuck, let me talk more broadly about the politics. >> sure. >> after '94 clinton had to wor
and medicare guide and find out... how you could start saving. da bull market or bear, traders are always hungry for ideas. trading is all about strategy. and strategy... is all about information. heat mapping shows me where the money's moving. twenty five hundred stocks... one quick look. that's where the action is. plus, this amazing gadget... it's called the telephone. i can call td ameritrade anytime and talk trades, strategy... anything. td ameritrade. built by traders, for traders. this is what i need. announcer: trade commission free for 30 days, plus get 100 dollars cash, when you open an account. >>> welcome to the floor of the new york stock exchange. time for the closing countdown. may not get in positive territory on the dow. the s&p had gone positive. you have to consider after a really disappointing pending home sales number we got today, down 16% in november on the back of a big rally that we had in the first trading day of the year yesterday you have to feel good this market was able to fight its way back, at least the s&p getting in positive territory, perhaps
debated openly and fairly. it will raise taxes, it will hurt medicare, it will destroy jobs and run our nation deeper into debt. i will work in the senate to put government back in the side of people who create jobs and the millions of people who need jobs. and remember, as president john f. kennedy
a trillion from medicare and looking to cut tricare and modify tricare for veterans you have higher taxation and longer lines, lesser care and a different type of coverage than we're used to here in massachusetts. as a massachusetts senator, i need to look at what's in the best interest of our state and this bill clearly is not good for massachusetts and quite frankly, i don't think it's good for the country. >> so the universal mandate on individuals and businesses in the state was put in by former governor romney. >> and it broke the bank and people are disillusions. you're going to get a rasmussin poll? >> we heard about the poll today. our plane is not breaking the bank. we have 98% of people covered here in massachusetts and offer offer a wide range of plans. what we do is export what we've done to other states and show them how to do it. why should massachusetts be subsidizing the rest of the country for their failure to do that? while i feel everybody is entitled to coverage we don't need a one-size-fits-all in the country. >> are people in massachusetts really t ett-ed off that they'
as a result of health care, including the medicare cuts, the tax increases, these are all things that are bad for the economy. >> he's got to prove himself. rhetoric notwithstanding, there is no road to damascus. you're still very skeptical. >> i'm still skeptical because i have yet to see the rhetoric be consistent with or match the actions. >> last week after the scott brown victory, he became a populous bashing the banks. we'll see what comes out tonight. you talk about pushing the reset button. we're basically saying he's gone down the wrong road for a year, which is why 50% of americans think we're on the wrong path. >> little history here. fdr raised taxes, he continued to raise taxes in 1935 and 1936, not unlike the bank tax. he raised taxes on corporations. he raised taxes on some undistributed profits, which are essentially their capital. this is a tax on bank capital. that is what created the mini-depression of '36 and '37. i thought we wanted banks to prosper. >> if you read the supply and demand, it extended the depression, but larry summers, the president, said we're going to hav
't be paying that anymore. we should be paying on the quality of those outcomes. today, same with medicare, it's purely based on whatever you go in for, whatever you incur and as many times as you incur, it there's no limit on it. the second thing is, clearly, we need to find ways to get more wellness programs baked in. manies of the things affecting america today, whether diabetes, obesity, or other items, those are the things in our care and custody as a count tree have some control over and there are ways to do and incent involves do that, the biggest thing, maria is providing information and that's where we're making the investments because to the average consumer today, you want to buy a car, you can research everything that you can on the internet, you want to get a loan, get multiple bids understand the components of those loans and et cetera. but today if you want to know befrg a hip replacement you don't know what doctors are good, what doctors are bad. what is a reasonable cost, a fair cost. don't know who has worse post-infection rate. i think that the more transparence they we can
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